Friday, November 25, 2011

Moody's cuts Hungary to junk HUF down 1.8%

(Reuters) - Credit rating agency Moody's cut Hungary's debt to "junk" grade late on Thursday, dealing a blow to Prime Minister Viktor Orban's unorthodox economic policies and prompting his government to denounce the move as a "financial attack".
Moody's lowered Hungary's sovereign rating by one notch to Ba1, just below investment-grade, with a negative outlook, only hours after rival Standard & Poor's held fire on a flagged downgrade after Budapest said it would seek international aid.